Finance

slate-property-group-miami
DevelopmentFinanceFloridaNewsSoutheast

Namdar Group Secures $460 Million in Funding for First and Second Phases of Two-Tower Miami Project

by Lynn Peisner

MIAMI — SCALE Lending has provided a $460 million funding package for Namdar Group’s new Miami development consisting of two 43-story towers in the central business district. The financing contains two parts: a $230 million bridge loan for the completion of 55 NE 2nd Street (Phase 1), which contains 680 units across 358,000 square feet; and a $230 million construction loan for an adjacent ground-up development at 50 NE 3rd Street (Phase II), containing 714 residential units across 395,000 square feet. SCALE Lending is the debt financing division of Slate …

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Prescott-Post-Portsmouth
DevelopmentFinanceNew HampshireNewsNortheast

JLL Arranges $96.8 Million Construction Loan for New Hampshire Development

by Lynn Peisner

PORTSMOUTH, N.H. — JLL Capital Markets has arranged a $96.8 million construction loan through Truist Bank for the development of Prescott Post, a 360-unit project in Portsmouth. The borrowers were Eastern Real Estate and The Kane Co. Construction began in October, and completion is slated for late 2027. Set on 26 acres, the market-rate community will feature approximately 2.7 acres of green and community space as well as such amenities as clubrooms, coworking spaces, an indoor-outdoor fitness area with a yoga studio, outdoor kitchens, fire pits, a dog run with …

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Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Greystone Provides $114.5 Million Bridge Loan for Queens Affordable Housing Redevelopment

by Lynn Peisner

NEW YORK CITY — Greystone has provided a $114.5 million bridge loan on behalf of Iris Holdings Group for the acquisition and rehabilitation of The State Preservation Portfolio, a 753-unit affordable housing portfolio. The nine properties are located throughout the borough of Queens. Iris Holdings Group partnered with the New York City Department of Housing Preservation and Development to preserve and redevelop the portfolio for families of varying levels of income affordability for the next 40 years. Iris Holdings Group will be updating building systems and enhancing accessibility features.

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Mill-at-White-House-Tennessee
FinanceNewsSoutheastTennessee

RFM Refinances The Mill at White House North of Nashville

by Lynn Peisner

WHITE HOUSE, TENN. — Walker & Dunlop has arranged a $42 million loan from an undisclosed institutional lender on behalf of RFM Development Co. The sponsor is refinancing The Mill at White House, a 216-unit property in White House, 27 miles north of Nashville that was recently completed and is finalizing lease-up. Walker & Dunlop’s capital markets team was led by Jeremy Pino, Livingston Hessam, Keith Melton, David Strange, Carl Passmore and Kyle Miller, the same team that previously arranged the asset’s construction financing in 2022.

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Fox-and-Grouse-Eden-Prairie
FinanceMidwestMinnesotaNews

Grego, Eagle Ridge Refinance Eden Prairie Development

by Lynn Peisner

EDEN PRAIRIE, MINN. — Greco and Eagle Ridge Partners have refinanced The Fox & The Grouse, a 237-unit property in Eden Prairie. Construction was completed on the first phase of the project in April 2025. JLL arranged the five-year, $50 million refinancing loan on behalf of the owners as well as equity partner Amstar Group, through PNC Bank. Back in August, JLL also arranged a $39.1 million loan and secured $16.5 million in equity from Amstar. Located 18 miles southwest of Minneapolis, The Fox & and the Grouse is six-story …

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Morris-Ellison
Affordable HousingDevelopmentFinanceIndustry Voices

How Property Tax Tools Can Spur Affordable Housing Development

by Lynn Peisner

As apartment rents climb and home prices soar, more Americans struggle to find stable, affordable housing. While many factors contribute to this growing affordability crisis one often overlooked but considerable, housing cost is property taxation. After World War II, the American dream was built on the foundation of homeownership. With the GI Bill’s help, returning veterans could purchase homes. Homeownership became a significant source of savings and wealth, enabling families to build equity over time as property values generally appreciated. In effect, homeownership became a form of “forced” savings that …

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Helms-Los-Angeles
Affordable HousingCaliforniaDevelopmentFinanceNewsWestern

Priority Capital Arranges $28 Million Loan for Los Angeles Development

by Lynn Peisner

LOS ANGELES, CALIF. — Priority Capital Advisory has arranged a $28 million loan on behalf of CityPads, a private equity fund manager and developer with operations based in Chicago and Los Angeles. The senior debt financing is for the development of a 92-unit property in West Los Angeles. Zachary Streit of Priority Capital Advisory brokered the loan along with Lucas Borges of JLL. CityPads has begun construction, and completion is slated for 2026. The property’s unit mix will consist of 38 studios (33 market rate, five affordable), 53 one-bedroom units …

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Apex-Posner-Park-Davenport
FinanceFloridaNewsSoutheast

Flournoy Partners Land $55 Million ReFi for Metro Orlando’s Apex Posner Park

by Lynn Peisner

DAVENPORT, FLA. — Walker & Dunlop has arranged a $55 million loan for Flournoy Partners to refinance Apex Posner Park Apartments, a luxury community in Davenport, 33 miles southwest of Orlando. Walker & Dunlop’s team was led by Jeremy Pino, Livingston Hessam, Carl Passmore and Kyle Miller. An undisclosed institutional lender provided the capital for the bridge loan. The property’s amenities include a saltwater pool with cabanas and grilling areas, a fitness center, package lockers, a dog park, a clubhouse and a gaming area with billiards. According to the property …

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Affordable HousingDevelopmentFinanceIndianaMidwestNews

KeyBank Provides $66 Million in Construction Financing for Indiana Affordable Housing Development

by Lynn Peisner

LAFAYETTE, IND. — KeyBank Community Development Lending and Investment (CDLI) has provided a $37.2 million construction loan, and Key Commercial Mortgage Group has arranged a $28.8 million permanent loan to finance the construction of Vita Lifestyle Lafayette. The 198-unit affordable housing development is located in Lafayette, approximately 60 miles northwest of Indianapolis. Vita Investment Holdings LLC has partnered with CRF Affordable Housing to develop the project. Vita Lifestyle Lafayette will consist of 159 affordable units and 39 market rate units, including one-bedroom, two-bedroom, and cottage-style units. Affordable units are restricted …

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Riverwalk-San-Diego
CaliforniaDevelopmentFinanceNewsWestern

Hines Breaks Ground on $380 Million First Phase of Riverwalk San Diego

by Lynn Peisner

SAN DIEGO — Hines, along with project partners Affinius Capital, Bank OZK, Related Fund Management and Heitman, has begun construction on Phase I of Riverwalk San Diego, a 200-acre transit-oriented mixed-use project situated on a former golf course in the Mission Valley submarket of San Diego. The overall project cost is approximately $3 billion. The groundbreaking follows the securing of $380 million in construction financing, comprising a $278 million senior loan from Bank OZK and a $102 million mezzanine loan provided by Related Fund Management, which originated the investment through …

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